SEC v PHILIP A. LEHMAN and TOWER EQUITIES, INC


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Keywords & Phrases

CaseNo: 33-7889, Defendant: Philip A. Lehman and Tower Equities, Inc., Plaintiff: SEC, State: OR Oregon, UniqueCaseRef: SEC>33-7889, Tower Equities, Act, Lehman, Investment, Securities, Exchange Act, Commission, Material Facts, Advisers Act, Tower Venture, Offering, Violations, Relevant Times, Credit Austerlitz, Proceeding, Paragraphs, Ohio, Misrepresentations, Transaction, Loan, Bank, Finances, Lifetime, Baylor, Wellington, Pursuant, Respondents, Basis, Ohio Limited Liability, Omissions , ContentID: 120244262

Case Documents

2000-09-07

SEC ADMINISTRATIVE PROCEEDING
[ see first page and extracted highlights below ] ItemID: 110996

8 pages
HTML

Total Documents: 1 document , 8 pages

Price: $ 19.95

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1 . SEC ADMINISTRATIVE PROCEEDING

EXTRACTED KEY WORDS

ACT
LEHMAN
INVESTMENT
SECURITIES
EXCHANGE ACT
COMMISSION
MATERIAL FACTS
ADVISERS ACT
TOWER VENTURE
OFFERING
VIOLATIONS
RELEVANT TIMES
CREDIT AUSTERLITZ
PROCEEDING
PARAGRAPHS
OHIO
MISREPRESENTATIONS
TRANSACTION
LOAN
BANK
FINANCES
LIFETIME
BAYLOR
WELLINGTON
PURSUANT
RESPONDENTS
BASIS
OHIO LIMITED LIABILITY
OMISSIONS

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

   SECURITIES ACT OF 1933
   Release No. 7889 / September 7, 2000

   SECURITIES EXCHANGE ACT OF 1934
   Release No. 43262

   INVESTMENT ADVISERS ACT OF 1940
   Release No. 1896

   INVESTMENT COMPANY ACT OF 1940
   Release No. 24636

   ADMINISTRATIVE PROCEEDING
   File No. 3-10024

   In the Matter of

   PHILIP A. LEHMAN and
   TOWER EQUITIES, INC.,
   Respondents.
   ORDER MAKING FINDINGS, ORDERING
   RESPONDENTS TO CEASE AND DESIST
   AND IMPOSING REMEDIAL SANCTIONS

   I.

   On September 22, 1999, the Securities and Exchange Commission
   (Commission) instituted public administrative proceedings and cease
   and desist proceedings, pursuant to Section 8A of the Securities Act
   of 1933 (Securities Act), Sections 15(b), 19(h) and 21C of the
   Securities Exchange Act of 1934 (Exchange Act), Sections 203(e),
   203(f) and 203(k) of the Investment Advisers Act of 1940 (Advisers
   Act) and Section 9(b) of the Investment Company Act of 1940
   (Investment Company Act), against Philip A. Lehman (Lehman) and Tower
   Equities, Inc. (Tower Equities).

   In response to the institution of these proceedings, Lehman and Tower
   Equities have submitted Offers of Settlement (Offers) which the
   Commission has determined to accept. Solely for the purpose of this
   proceeding and any other proceeding brought by or on behalf of the
   Commission, or to which the Commission is a party, and without
   admitting or denying the findings herein, except the Commission's
   jurisdiction and the findings contained in Paragraphs II.A and II.B.
   below, which are admitted, Lehman and Tower Equities consent to the

SNIPPETS:

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

INVESTMENT ADVISERS ACT OF 1940

ORDERING RESPONDENTS TO CEASE AND DESIST AND IMPOSING REMEDIAL SANCTIONS

On September 22, 1999, the Securities and Exchange Commission instituted public

Solely for the purpose of this proceeding and any other proceeding brought by or on behalf of

Tower Equities is an Ohio corporation based in Dayton, Ohio, has been a broker-dealer

At all relevant times, Lehman was a person associated with both a broker-dealer and an

At all relevant times, Tower Venture 97-A, Ltd. was an Ohio limited liability company based

At all relevant times, Lifetime Assets, LLC was an Ohio limited liability company based in

Lehman was the president and managing partner of Baylor.